will receive the benefit of this exception. The tax due for future years will attach on January 1st of each year and will be due and payable
later in that year. The tax is not pro-rated or forgiven if the Aircraft is sold or this Agreement is terminated after January 1st. It is
agreed by Lessee and Lessor that the California Property Tax due for the final year of the Lease Term will be payable by Lessee at a time that is likely to occur after the end of the Lease Term. For example, if the Agreement terminates on
May 15, 2011, then Lessee shall be